EQT Corporation has formed a $3.5 billion midstream joint venture with Blackstone, highlighting continued consolidation in the U.S. energy sector.
EQT Corporation has agreed to sell minority interests in two of its pipelines, plus transmission and storage assets, to funds managed by Blackstone Credit & Insurance in a $3.5 billion cash deal to form a midstream joint venture . Under the terms of the transaction, Blackstone will provide EQT $3.5 billion of cash consideration in exchange for a non-controlling common equity interest in the joint venture , the U.S. natural gas giant said on Monday, in the latest midstream deal in the U.S.
6 billion cubic feet per day gathering header pipeline primarily designed to connect natural gas produced in Pennsylvania and West Virginia to the Mountain Valley Pipeline, Texas Eastern Transmission, and Eastern Gas Transmission. The joint venture with Blackstone provides EQT with a large-scale equity capital solution at an accretive cost of capital.
Blackstone Midstream Natural Gas Pipeline Energy Investment Joint Venture Infrastructure Consolidation
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